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Multistage Communication With And Without Verifiable Types

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  • FRÉDÉRIC KOESSLER

    ()
    (Paris School of Economics (PSE), 48, Boulevard Jourdan, 75014 Paris, France)

  • FRANÇOISE FORGES

    ()
    (Ceremade, Université de Paris-Dauphine, Place du Maréchal de Lattre de Tassigny, F-75775 Paris Cedex 16, France)

Abstract

We survey selected results on strategic information transmission. We distinguish between "cheap talk" and "persuasion". In the latter model, the informed player's message set depends on his type. As a benchmark, we first assume that the informed player sends a single message to the decision maker. We state characterization results for the sets of equilibrium payoffs, with and without verifiable types. We then show that multistage, bilateral communication enables the players to achieve new equilibrium outcomes, even if types are verifiable. We also propose complete characterizations of the equilibrium payoffs that are achievable with a bounded number of communication rounds.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 10 (2008)
Issue (Month): 02 ()
Pages: 145-164

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Handle: RePEc:wsi:igtrxx:v:10:y:2008:i:02:p:145-164

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Related research

Keywords: Cheap talk; certification; incomplete information; information transmission; jointly controlled lotteries; verifiable types; C72; D82;

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References

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  1. Blume Andreas, 1994. "Equilibrium Refinements in Sender-Receiver Games," Journal of Economic Theory, Elsevier, vol. 64(1), pages 66-77, October.
  2. Renault, Jérôme, 2001. "3-player repeated games with lack of information on one side," Economics Papers from University Paris Dauphine 123456789/6538, Paris Dauphine University.
  3. Watson, Joel, 1996. "Information Transmission When the Informed Party Is Confused," Games and Economic Behavior, Elsevier, vol. 12(1), pages 143-161, January.
  4. V. Crawford & J. Sobel, 2010. "Strategic Information Transmission," Levine's Working Paper Archive 544, David K. Levine.
  5. Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
  6. Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476, December.
  7. Renault, Jérôme, 2000. "On Two-Player Repeated Games with Lack of Information on One Side and State-Independent Signalling," Economics Papers from University Paris Dauphine 123456789/6109, Paris Dauphine University.
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Citations

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Cited by:
  1. Frédéric Loss & Estelle Malavolti & Thibaud Vergé, 2013. "Communication and Binary Decisions: Is it Better to Communicate?," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 169(3), pages 451-467, September.
  2. Mikhail Golosov & Vasiliki Skreta & Aleh Tsyvinski & Andrea Wilson, 2013. "Dynamic Strategic Information Transmission," Working Papers 13-03, New York University, Leonard N. Stern School of Business, Department of Economics.
  3. Forges, Françoise & Vida, Péter, 2013. "Implementation of communication equilibria by correlated cheap talk: The two-player case," Theoretical Economics, Econometric Society, vol. 8(1), January.

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